FAQs

What is crypto?

Crypto is a peer-to-peer public decentralised system that enables two or more parties to transact together and understand that no party was able to double spend -spend the money twice. This is carried out on a system known as a Blockchain that employs something known as Distributed Ledger Technology.

Bitcoin was the first such digital currency. It was released as a part of a white paper authored by an individual or a group using the pseudonym Satoshi Nakamoto. It was this white paper that introduced the world to Blockchain, distributed ledger technology and a digital payment platform that spawned Bitcoin. In order to do this some pretty advanced cryptography is used to ensure privacy and immutability.

Since that initial white paper an entire industry has evolved. There are in excess of 1200 different cryptocurrencies, some that look and act like cash we would spend at the corner dairy (these are what we term value tokens), others that are more akin to the milk tokens that people used to place in empty milk bottles for the milkman to replace on his run. Others underpin highly sophisticated financial instruments that delve into prediction markets to predict the future price of things based on sentiment.

Token Room is pleased to be able to offer you the opportunity to purchase some of these cryptocurrencies now. You will find more details specific to the currencies we offer on our currency description pages. (Bitcoin, Ethereum, Litecoin, Ripple & Zcash)

Why must I register?

The registration process enables us to meet stringent criteria around Anti Money Laundering and Counter Financing of Terror laws (AML/CFT). If another entity allows a more simplified account set up process, with less information required, they may not be meeting minimum standards, and we’d recommend you did some of your own research before signing up with them.

In addition, our set up process means as we bring new offerings, we will not need additional information from you. All personal information is stored securely and we will not pass on your information to third parties for promotional or marketing purposes.

About Us

Kiwi born and bred, our interest in crypto currencies was first sparked by Bitcoin mining in 2010, fast forward 6 years and that interest was ignited with the introduction of new Blockchain technology.

It became evident quite quickly that the primary hurdle for many wanting to join the blockchain phenomenon was the actual process of obtaining the currencies locally, at a reasonable price and being able to store them securely.

From these challenges, Token Room was conceived, addressing each of these hurdles along the way and we think we’ve nailed it.

We’ve created a means for other kiwis to get on board, easily and securely through Token Room. We’re a Registered Financial Services Provider, we’ve worked with our partners to negotiate competitive rates and we’re proud resellers of the highly acclaimed Ledger Hardware wallets, where you can safely and securely store your value tokens.

We want to make this process as easy as possible, so reach out if you need to, we’re here to help.

We thank you for stopping by and look forward to servicing you and helping you build your digital asset portfolio.

Disclaimer

Crypto currencies, including value tokens, are a new and largely unregulated asset class. This asset class and the crypto currencies are subject to large fluctuations in value. You need to be sure that you understand the risks and are comfortable with them. These risks include but are not limited to your financial situation and risk tolerance. Token Room encourages you to do your own research and speak to a Financial Advisor, or other registered professional if you are unsure if investing in crypto assets is right for you. Although we are a Registered Financial Services Provider, the content of the Token Room website is not intended to be taken as investment advice. Our banking providers do not transfer crypto currencies or provide any services connected with crypto currency trading. Token Room accepts no responsibility for any losses incurred by the purchase or sale of value tokens and crypto currency.

Important notice

The Token Room team would like to thank all our current and future customers for your support whilst we work through our current banking challenges.

If you missed the news “Despite full disclosure with our bank from the outset and attempts to work with them to review and adapt our policies and procedures, they have declined to engage or review any of our policies and sadly we have been unable to resolve this matter at this time.”

Token Room is, and will continue to be committed to meeting and exceeding all of our current legislative requirements. We have extensive AML policies, procedures and Customer Due Diligence procedures in place. At times our vigilance in this area has frustrated some of you however, this was always performed to ensure that we were compliant and could continue enabling Kiwis to build their Digital Asset Portfolios

If you are not yet registered with Token Room, simply click the ‘I understand’ button below and begin the registration process.

Registered customers will be notified via email when this matter is resolved.